Third-Party Risk Issues in Mortgage Lending
The concern with third-party risk management (TPRM) in the lending industry is based on the vast number of vendors who serve financial institutions to actually manufacture a loan. Each vendor…
The Pitfalls of Oversimplifying Third-Party Risk Management
Vendor management used to mean little more than a firm handshake and a signed contract. In today’s world, however, treating third-party risk management (TPRM) as a mere check box is…
Four Reasons to Outsource Vendor Management
“These are very challenging times for independent mortgage bankers,” said Marina Walsh, MBA’s Vice President of Industry Analysis, in November 2018. Most mortgage lenders can relate to that sentiment, since…
How Much Do You Trust Your Vendors
Any given organization will likely keep a long list of third-party vendors. They cover a wide range of functions, and—although not enough people consider this point—they cover a broad range…
